IMF Caves

Greece says lenders closer to compromise on debt viability | Reuters.

Just when we thought that the IMF would remain the voice of reason on Greece, Lagarde caved in to eurozone demands that the debt sustainability figure be raised to 124%.

The IMF’s capitulation paves the way for a deal on additional Greek aid and releasing the next tranche of bailout loans. This new compromise comes at a high price to the IMF. It is slowly losing credibility as its europhile, French leader puts the interests of the continent ahead of those of the organization she heads.


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